Coke Settles Longstanding Lawsuit ATLANTA, GA (WABE) - Two pension funds are the lead plaintiffs in the case, although the settlement covers anyone who purchased Coke stock from Oct. 21, 1999, to March 6, 2000.

According to a report in the industry magazine 'Global Pensions', the lawsuit alleges that Coke forced some of its bottlers to buy excessive quantities of the concentrate used to make the soda. In turn, that made sales figures appear better than they really were.

The pension funds sued because they purchased Coke stock when the prices were supposedly inflated.

In a statement Emailed to WABE, Coke says:

"The Company has vigorously fought these allegations for more than eight years. We maintain these allegations are without merit and no admittance of wrongdoing is a part of this settlement. At this time, we have determined that it is in the best interest of our business to close this matter and put this distraction behind us."

One of the pension funds declined comment, while the the other had not returned our call.

A settlement fairness hearing is scheduled for October 20th. © Copyright 2012, WABE